Today’s news in brief -18/10/2024

BDO is recruiting 700 new trainees across 18 UK offices as part of its investment in early career programs. Applications are open until January 5, 2025, for school leaver apprenticeships, graduates, and industrial placements, with most joining in September 2025. The firm, which has 8,000 employees, offers entry routes including its Black Heritage and summer insight programs to diversify the accountancy field. Anna Draper, head of people and culture, emphasized the importance of expanding access to accountancy, particularly for young people, as part of BDO's commitment to fostering the next generation of professionals. Forvis Mazars has appointed Ryan Crilley as an audit partner for its Glasgow and Edinburgh offices. Crilley brings extensive experience, having served as audit director at Johnston Carmichael and finance manager at Gallagher. He also spent over seven years at EY. At Forvis Mazars, Crilley will work with privately owned businesses, offering expertise in financial reporting and regulatory compliance. Craig Maxwell, managing partner of the Glasgow office, welcomed Crilley, praising his deep audit and assurance experience as a valuable addition to the growing team, helping to serve both existing and new clients in Scotland. The Insolvency Service reported 1,973 registered company insolvencies in England and Wales in September 2024, a 2% increase from August and 7% lower than the previous year. Despite the decline, insolvency rates remain significantly higher than pre-pandemic levels. The insolvencies included 1,575 creditors’ voluntary liquidations (CVLs), 226 compulsory liquidations, and 155 administrations. Analyst Oliver Collinge attributed the rise to economic pressures such as soft customer demand, high interest rates, and cost pressures. He warned that insolvency numbers are likely to remain elevated until economic conditions improve, with the upcoming budget potentially adding more strain on businesses. Clive Owen LLP has expanded to Newcastle, marking its fifth office in the North of England. The new office, located in the city centre, will be led by tax partner Stephen Harris, who brings over 15 years of experience in corporate tax restructuring, mergers and acquisitions, and tax reliefs. Harris, previously at national firms, aims to help local businesses navigate complex tax issues. Managing partner Gary Ellis highlighted the firm’s commitment to organic growth and providing bespoke services. This expansion follows the recruitment of Michael Cantwell to lead the Corporate Finance division, strengthening the firm’s regional presence.